Shares of Estee Lauder fell 2.5% in premarket trading as the company said it expects 2020 adjusted profit between $5.85 and $5.93 per share, down from a prior range of $5.90 to $5.98. The cosmetic company cited an array of political and economic risks including ongoing protests in Hong Kong, the drama of Brexit and slowing growth in China. Overall, net sales climbed 11% to $3.90 billion. Excluding items, Estee Lauder earned $1.68 per share.